Irvine-based Broadcom Corp. raised its sales expectations on Wednesday, sending its shares up more than 7%.
Speaking at its annual conference for analysts in Santa Clara, Broadcom Chief Executive Scott McGregor said the chipmaker’s fourth-quarter revenue would come in at the high end or slightly above previous guidance calling for 10% to 12% growth compared to the the third quarter.
Broadcom posted revenue of about $695 million during the third quarter.
The company’s shares were trading at $46.13 in trading Wednesday.
